The Grading for his competency in Personal Finance. It should be Well Done!
He fully understands what is the purpose of Life Insurance when he was in his late 20s, married and progressively more children with more life insurance policies to protect his dependents. Life insurance is to cover Human Asset and protect our dependents. When Human Asset is ZERO and with no more dependents to protect; to continue to cover zero value human asset with life insurance is redundant. Unless one is planning it as Funeral gifts!
By the time we retire and never build up our own retirement fund to include self-insured after 60s; we can't grant ourselves a Pass on personal finance. More? Insurance
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
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